Zimbabwe to Lower Import Tariffs of Basic Goods to Curb Price Hike
Zimbabwe is allowing ordinary citizens with access to U.S. dollars to import basic commodities for their own use to counter “substantial” price increases by retailers. Finance Minister Mthuli Ncube said [...]
JSE Launches New Data Analytics Platform
The JSE has announced the deployment of an online trading analytics platform for listed firms and exchange traded funds(ETFs). This software has been provided by big xyt, a global provider [...]
Tanzania Increases Minimum Wage by 23.3%
Tanzania has approved a 23.3% increase in the minimum wage, seeking to protests about the high cost of living. The last time civil servants enjoyed a salary increment was seven [...]
Coop Bank Invests Additional Capital of KSh372 Million in its South Sudan Subsidiary
Kenya’s Coop Bank has pumped an additional capital of KSh372 million to its South Sudan subsidiary. In its eight years of operation, the subsidiary has accumulated losses of KSh3.29 billion. [...]South Sudan Gears to Import 100MW of Electricity from Ethiopia
South Sudan has signed a memorandum of understanding with Ethiopia to import hydro and other cheaper energy, bringing to birth the Grand Ethiopia Renaissance Dam (Gerd). According to the Ethiopian [...]Turkish Airlines Launches Somalia's Only Non-Stop Flight to Europe
Turkish Airlines has launched Somalia's only non-stop flight to Europe: Istanbul-Mogadishu and Istanbul-Djibouti, replacing the former Istanbul-Djibouti-Mogadishu service. Due to coronavirus, the Turkish flag carrier operated Istanbul-Mogadishu non-stop between July and September [...]TopUp Mama Raises $1.7m to Support African Restaurants
TopUp Mama, a Kenyan startup which provides African restaurants with access to supplies, financial services and business management tools, has closed a US$1.7 million seed funding. This seed round was [...]Africa accounts for 70% of the World's $ 1 trillion Mobile Money Market
Africa now accounts for 70% of the world’s $1 trillion mobile money value. The value of Africa’s mobile money transactions edged up 39% to $701.4 billion in 2021 from $495 [...]Rwanda's Central Bank Maintains Lending Rate at 5 % to Control Soaring Inflation
Rwanda’s central bank has maintained its lending rate to tackle soaring inflationary pressures and support economic recovery. The central bank’s rate-setting Monetary Policy Committee (MPC) on Thursday decided to maintain [...]Interswitch Secures $110 Million Joint Investment to Scale Digital Payments
African payments company, Interswitch has secured a $110 million joint investment from LeapFrog Investments and Tana Africa Capital to scale its digital payment services across the continent. However, the exact [...]Pan-African Crypto Platform Mara Secures $23 Million Funding
Pan-African cryptocurrency platform, Mara has raised $23 million in funding, seeking to create a portal to the crypto economy for Africans. Investors who took part in the funding include TQ [...]Boost for Trade as Tanzania Cuts Road Toll Fees for Uganda Trucks by 71%
Tanzania has announced plans to cut a road toll by about 71% on the Uganda-bound cargo trucks, as part of the agreement reached during the meeting of the two countries' [...]
